AI is one of the most transformative technologies of the 21st century. Despite bursting into the scene in 2022 with the release of ChatGPT, AI is already a mainstay in most industries. In fact, studies suggest its market value will increase five times over the next 5 years.
However, a lot is going on in the AI corridors lately. From government regulation to green AI, the next few years could be AI’s make-or-break period. In this post, we’ll list the Top 5 AI trends anyone planning to invest in AI should know.
Table of Contents
Quantum AI: A New Era Of Supercomputing
As the world continues to embrace AI, quantum AI is already a hot topic among most techies. Just as the name hints, this technology combines the power of quantum computing and AI’s machine learning abilities.
Unlike regular computers that use bits (0 or 1), quantum computers support qubits (0, 1, or both simultaneously). This means quantum computers can handle complex problems that classical computers and traditional AI models wouldn’t.
The benefit of quantum computing is that it will facilitate faster AI training and produce newer and more powerful AI models. Such models could spearhead research in industries like healthcare and security. A report by Precedence Research reveals the quantum AI market could grow by a CAGR of 34.80% between 2025 and 2034. Quantum AI is the future!
Green AI: Reducing Environmental Impact
According to UNEP, AI-related infrastructure can consume more water than Denmark. The organization considers this a huge problem, considering 25% of humanity is grappling with water shortage. And with more AI centers opening up, AI’s environmental impact could worsen.
Thankfully, calls for green AI are getting louder, a trend that should gather steam in the next few years. UNEP reveals that 190 countries have adopted non-binding recommendations about the ethical use of this technology. In the United States, for instance, Congress passed a law in February 2024 to reduce the environmental impact of AI. Expect more of such regulations.
More AI-Personalized Services
AI in business is becoming a reality more than ever. According to the latest study by McKinsey, 78% of companies use AI in at least one of their operations. One of the primary uses of AI in business these days is personalization. Many organizations are turning to this technology to study customer behaviour and provide tailored services.
Excellent examples of familiar brands that use AI personalization are YouTube and Netflix. These sites use AI to provide tailored content, with Netflix saving $1 billion annually from AI-driven personalization. In the online gaming sector, real money casinos use AI to recommend games and bonuses based on your gaming history. AI-driven targeted marketing is the new trend in town.
Other ways that AI is reshaping businesses include:
- AI-driven chatbots are providing 24/7 customer service.
- Identifying and blocking fraudulent transactions.
- Optimizing logistics and predicting demands.
- Helping business leaders make more data-driven decisions.
AI Regulations: Ensuring Ethical Standards
AI continues to influence every sector, reshaping operations and services. However, as this technology moves to its implementation stage, the focus now shifts to regulation. The consensus is that this technology needs regulation to ensure trust, clarity, and risk mitigation. A report by Reuters reveals that 93% of professionals recognize the need for regulation.
The European Union and the United States are leading the way after passing AI regulation bills. Canada is also actively looking to regulate this technology through the Artificial Intelligence and Data Act (AIDA). This bill aims to create a clear framework for the responsible design and implementation of AI models. More countries could soon regulate AI.
Shadow AI: A Growing Threat Within Organizations
Shadow AI is the use of AI systems without the approval of a company or organization. Today, employees can use Generative AI tools to complete tasks like data entry, draft copies, and write code. These programs are just a click away on their browsers.
Unfortunately, unsanctioned use of AI within organizations will continue to increase in the coming years. This can pose significant threats, including security breaches and operational inconsistency. And according to experimental research by Forbes, overreliance on AI can affect creativity.
So, how can companies combat shadow AI? Below are a few proactive approaches:
- Clearly defined authorized use of AI and the specific data inputs.
- Implement monitoring tools and processes to detect unauthorized AI use.
- Ensure AI tools in the organization adhere to the highest security standards.
- Educate employees on the dangers or risks of shadow AI practices.
Last Words
These AI trends should make the most headlines in the next few years. The AI industry is evolving at breakneck speed, meaning we must be fully prepared to embrace this technology. Trends like quantum AI and personalized content will undoubtedly transform how we interact and behave.
However, as we look forward to these fundamental transformations, we must use AI responsibly. To harness its transformative potential, all stakeholders must think together to address challenges like AI’s environmental impacts and shadow AI. The future of AI is in our hands!
